Exports of basmati rice up by 5.25pc

ISLAMABAD: Rice exports from the country during first month of current financial year grew by 2.85 percent as compared the corresponding month of last year and about 212,518 metric tons of rice worth US$ 110.966 million exported as against the exports of 190,455 metric tons valuing US$ 107.893 million of same period of last year.
During the month of July, 2018, about 37,661 metric tons of basmati rice worth US$ 34.832 million exported as compared the exports of 31,433 metric tons valuing US$ 33.91 million of the corresponding month of last year.
According the data of Pakistan Bureau of Statistics, the exports of above mentioned commodity witnessed about 5.25 percent growth during the period under review.
During the period under review, about 174,857 metric tons of rice other than basmati worth US$ 76.138 million exported during the period under review as against the exports of 159,022 metric tons worth US$ 74.802 million of same period last year, it added.
Meanwhile, commenting on the uptick of the exports of the rice, Chairman Rice Exporters Association of Pakistan (REAP) Samee Ullah Naheem told state-run media that due to the implementation of international set standards and adoption of phytosanitary measures, the demand of Pakistani rice from Europe and Middle Eastern countries including Saudi Arabia had witnessed tremendous growth.
The demand of basmati rice had also increased from other markets of the world as the local rice was unique in its taste and aroma all across the globe and was on high demanded, he remarked and said that the momentum of exports could further be enhanced by paying little attention.
He informed that the exports of rice would further increase as arrangements were in progress with Iran as it is another market have huge potential for the Pakistani rice, adding that rice worth US$ 2 billion were exported during the year 2017-18.
Besides, Pakistan was also finding other potential markets to enhance its exports and introduce its products there to fetch further foreign exchange reserves for the economic development of the country, he observed. – NNI

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